Cayman's students learn investment skills

Mar 12, 2018 News

Two Saint Ignatius students win Saxon Investment Club team of the month honours. The programme aims to teach Cayman's youth more about the financial services industry, specifically working with investments. One Trade-X director of business development Rich Ellison is bullish on the benefits. "It's to allow the students in the Cayman Islands an opportunity to learn about trading and financial markets," said Mr. Ellison. He said the Saxon Investment Club provides young people a way to learn about the world of wall street. "Providing our trading system which is a real world simulation so they get virtual currency to trade and it allows them the opportunity to look at how financial markets work and do research and put their ideas in play with out having to risk any real money," said Mr. Ellison. A level students Aaron Fernandes and Enrique McCoy earned February team of the month honours. "Since high school I've always had the love for numbers that's why I've chosen a career in accounting and then I've been given this opportunity in 6th form to participate in the stock market and I realise that with my A level subjects accounting and business this would give me an insight with how the stock market can be done in the real world," said student Mr. Fernandes. He felt the knowledge could be beneficial later. "Learn how to different businesses stocks and how they trade and gain research," said Mr. Fernandes. Mr. McCoy said this programme will pay dividends. "Well I feel that its taught me a lot about how to manage investments and the stock market in general...prior to this I didn't really have a solid idea of how the stock market actually worked and now I feel like I've been able to grasp basic knowledge of it," said Mr. McCoy. Ultimately the programme hopes to boost Caymanians in the financial sector. "It gives them an opportunity to see what might happen later in life when they start working and also we just want to increase the financial acumen and knowledge that they have about financial markets and saving and investing," said Mr. Ellison. In a few more weeks the over all top performer from public and private schools involved in the Saxon Investment Club will be announced.